Strategically managing your money is critical to building wealth over a lifetime. Wealth management includes making investments and planning for retirement, both crucial ways to gain wealth.

However, if you don’t have a financial background, it can be overwhelming and hard to figure out where to start. A wealth management company like HORAN Wealth Cincinnati & Ft. Mitchell Wealth Management can make a huge difference in ensuring you put your money in the right place.

With so many different wealth investment companies, it’s hard to know which one is right for you. To help you decide, we’ve compiled a quick-take wealth management guide. So read on! 

Look For Credentials 

One of the first things to look for in a wealth management company is its credentials. When you first meet with a potential financial advisor, ask about where they’ve worked and if they’re a Certified Financial Planner. You should also ask about other qualifications and how long they’ve been in the business. 

Don’t be afraid to ask about current and previous clients, either. It’s helpful to know what type of people they typically work with and the amount of money they’re used to managing. 

Compare Services 

Another essential factor to consider is the services provided by the wealth management company. Wealth companies may specialize in certain services over others. 

Whether you’re looking for investment advice, estate planning, or tax assistance, you’ll want to make sure it’s a service the company provides. 

Ask About Costs 

The cost and fees associated with wealth management companies can also vary. The cost of your wealth manager should not come as a surprise. You should have an open and honest conversation about this in the beginning. 

There are two basic ways that wealth managers get paid. They can earn commission on products and charge fees for services. 

The cost of a wealth manager will differ based on the person and the type of portfolio they’re working with. However, you’ll always want to ensure that the cost doesn’t outweigh the value or benefits you’re receiving. 

Understand the Firm’s Client-Advisor Availability 

Some people want to speak with their wealth manager daily or weekly, while others are fine with meeting quarterly or as needed. 

Before hiring a company, ask how often they meet with their clients and their preferred method of communication. You want to make sure that you can get ahold of your wealth manager when you need them. This will keep you from feeling ignored. 

Finding a Wealth Management Company

These are all the main factors to consider when looking for a wealth management company. Beyond these factors, it can also be helpful to ask friends and family about the wealth companies they work with. 

The most important thing is to find someone you trust. After all, managing wealth is a huge undertaking, and you want it done correctly. So, don’t wait any longer. Start building your wealth today!

And for more helpful topics related to finance, be sure to check out the rest of our blog. We have a ton of other fantastic articles you’ll love.